CPS Homes

Rent smart with CPS Homes

CPS Homes can help with Rent Smart WalesAs experts on Welsh Government's Rent Smart Wales landlord registration and licensing scheme, we're here to help landlords comply with the requirements put on them.

Due to an increasing amount of red tape put on landlords in recent years, many have taken the decision to instruct an agent to manage their properties on their behalf.

At CPS Homes, we fulfil Rent Smart Wales criteria required for an agent licence, meaning we're permitted to act as a managing agent and can save landlords from needing to obtain a licence and do the relevant training .

By instructing us to manage your property, we will…

  • Save you the cost of a landlord licence and the hassle of ongoing training.
  • Buffer you from the questions and demands of the local authority and Rent Smart Wales.
  • Address any issues or problems via our designated Maintenance & Inspections Team.
  • Provide you with your own representative within our Lettings and Accounts departments.
  • Offer you continued and considered advice on how best to maximise your rental income.
  • Provide you with peace of mind via our Client Money Protection (CMP) policy, professional indemnity insurance, and redress scheme membership.

What is Rent Smart Wales?

Rent Smart WalesLaunched in 2015, Rent Smart Wales is the product of the Welsh Government's bid to "improve the image" of the private rented sector.

It puts a requirement on every landlord of a rented property in Wales to register with Rent Smart Wales. During registration, they must list every property they rent out in Wales.

On top of registration, those who choose to self-manage must also obtain a landlord licence and go through the relevant training, but if they appoint a managing agent, these elements can be avoided.

The Rent Smart Wales website contains a comprehensive Frequently Asked Questions section, but the scheme can be summarised as follows;

The two main requirements for landlords

Registration

As a landlord, you must register with your name, address, date of birth, e-mail address, telephone number and addresses of every property you let out in Wales.

How to register

  • Registration can easily be done online for a cost of £45, or via a paper application form for £84 (prices correct as of Jan 2023). The cost is per landlord, not per property.
  • If your contact details change, you are required by the local authority to update your record. Likewise, if you sell an existing buy-to-let property or buy a new one, you must make these changes.
  • Registration is valid for 5 years. Upon expiry, a new registration must be made, along with payment of a new fee. Renewing a registration costs £36 online or £67.20 via paper (prices correct as of Jan 2023).
  • The registration process must be completed by the landlord and cannot be done by an agent. This is because the person completing the registration has to verify that the information being registered is true and accurate, and they are personally responsible for the record

A licence

If you find contract-holders (tenants) yourself or do any day-to-day property management related duties – a full list of which can be found here – you must be licensed. However, if you use a managing agent, then you don't need a licence as it’s the agent who must be licensed.

How to obtain a licence (in order to manage properties)

  • Applying for a licence can be online for a cost of £187, or via a paper application form for £223 (prices correct as of Jan 2023).
  • Landlords must undertake relevant training before being granted a licence, which is at an additional cost to the licence itself. Rent Smart Wales offer their own training, which is a one-day in-person course at a cost of £100 (8.45am-4pm) or several hours' online training at a cost of £30. At the end of the course, they need to answer 20 questions and get at least 15 correct in order to pass. Click here to view the training options available.
  • Only one licence is required, regardless of the number of properties you manage.
  • The license holder must be deemed a ‘fit and proper person’ and must comply with a Welsh Minister-approved Code of Practice containing letting and management standards in relation to rented properties.
  • Licenses are valid for 5 years. Upon expiry, a new licence application must be made, along with payment of a new fee. Renewing a licence costs £187 online or £223 via paper (correct as of Jan 2023). There’s an approximate 10% discount available to landlords who apply for a renewal 42 days or more before expiry (though you can’t apply more than 84 days before). If important new legislation has been released or updated since being granted the current licence, landlords may need to do additional training before being granted a new licence.

Frequently Asked Questions (FAQ)

I already have a HMO (House of Multiple Occupation) licence for my rented property. Do I need to register and obtain a licence via Rent Smart Wales as well?

HMO licensing and Rent Smart Wales are two entirely different pieces of legislation, so holding a HMO licence does not alter the requirements put on landlords by Rent Smart Wales.

I jointly own a rental property with someone else, and we manage it between us. Do we both need to register and obtain a licence?

Yes. One of you can register as the "lead" landlord and list both persons' details on the registration, but bear in mind that you will need a landlord licence each as you both do property management activities.

I own some properties individually and some jointly. Who needs to register, and who needs to obtain a licence?

You will need to complete one registration for the properties you own solely, and a separate registration for the ones owned jointly (either owner can complete this). Only the individuals who complete letting or management activity will need to apply for a licence.

I use (or intend to use) a managing agent who handles everything on my behalf. Can they register me as a landlord?

No, unfortunately not. Only the landlord can complete the registration because they have to verify that the information being registered is true and accurate.

I have buy-to-let properties inside and outside of Wales. Do I need to declare them all when registering?

No, only the properties in Wales need to be listed.

I’m going to register myself as a landlord online, but I own many different properties in Wales. Can I upload them in bulk, rather than input them individually?

Yes, you can. There will be functionality available for landlords to upload multiple properties in one go.

What will the fees paid by landlords be used for?

Rent Smart Wales states that the fees are not collected to make a profit. Instead, they will be put towards the running costs of the scheme, which includes ensuring landlords who try to ignore their legal obligations are pursued and punished accordingly. The scheme will also investigate complaints made by contract-holders.

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